Matthew A. Drapkin - 13 Nov 2023 Form 4 Insider Report for Great Elm Group, Inc. (GEG)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GEG	Common Stock	Purchase	$24K	+12.3K	+0.59%	$1.95	2.1M	13 Nov 2023	See Footnote	F1, F3, F4
transaction	GEG	Common Stock	Purchase	$4.15K	+2.13K	+0.11%	$1.95	1.88M	13 Nov 2023	See Footnote	F2, F3, F4
transaction	GEG	Common Stock	Purchase	$314K	+158K	+7.5%	$1.99	2.26M	14 Nov 2023	See Footnote	F1, F3, F4
transaction	GEG	Common Stock	Purchase	$55.4K	+27.9K	+1.48%	$1.99	1.91M	14 Nov 2023	See Footnote	F2, F3, F4
transaction	GEG	Common Stock	Purchase	$39.5K	+19.9K	+0.88%	$1.99	2.28M	15 Nov 2023	See Footnote	F1, F3, F4
transaction	GEG	Common Stock	Purchase	$6.97K	+3.51K	+0.18%	$1.99	1.91M	15 Nov 2023	See Footnote	F2, F3, F4
holding	GEG	Common Stock						425K	13 Nov 2023	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Represents shares of common stock held directly by Northern Right Capital (QP), L.P., a Texas limited partnership ("Northern Right QP").
F2	Represents shares of common stock purchased by managed accounts (the "Managed Accounts") on behalf of certain investment advisory clients of Northern Right Capital Management, L.P. ("Northern Right Management").
F3	As general partner and investment manager of Northern Right QP, Northern Right Capital Management, L.P. ("Northern Right Management") may be deemed to be the beneficial owner of the shares of common stock held by Northern Right QP. As the investment manager of the Managed Accounts, Northern Right Management may also be deemed to be the beneficial owner of the shares of common stock held by the Managed Accounts. As general partner of Northern Right Management, BC Advisors, LLC, a Texas limited liability company ("BCA"), may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by Northern Right Management. As the managing member of BCA, the Reporting Person may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by BCA.
F4	(continued from footnote 3) The Reporting Person disclaims such beneficial ownership of the shares of common stock indirectly owned through his position with BCA, except to the extent of his pecuniary interest therein.